For Immediate Release
November 8, 2005

For More Information:
Larry Schaffel, 312/943-2100x409
Tricia Van Horn, 312/943-2100, x403

Sale of last unit marks completion of the LANCASTER, first residential building at historic Lakeshore East

The developers of the vibrant new Lakeshore East community on Chicago’s lakefront report the final sale of the community’s first condominium tower, the $108 million The Lancaster. Modern in design, yet classical in appearance, the tower designed by Loewenberg + Associates in the highly anticipated Lakeshore East neighborhood, where the river meets the lake, The Lancaster’s high-rise homes provides residents enviable park, river and lake views.
Positioned at the east end of the community’s lush, six-acre public park, The Lancaster brings an enviable new dimension to the quintessential real estate ingredient --- “location” – by its remarkable proximity to the central business district, world-class shopping, cultural and entertainment opportunities and the city’s finest restaurants.

LAKESHORE EAST (LANCASTER SOLD OUT) – Add 1

The 29-story The Lancaster contains 209 one-, two- and three-bedroom homes of up to 2,000+ square feet. Building amenities provided by the development team of Magellan Development Group and NNP Residential include:
• 24-hour doorman service
• Enclosed private parking for 230 vehicles
• 2,500-square-foot, state-of-the-art community fitness center
• Pre-wired telephone, cable television and high-speed Internet access
• Rooftop sun deck
• Private party room
• Personal storage lockers
The Lancaster is but the opening act of the magnificent new East Side neighborhood. The $4 billion Lakeshore East is a preview of the future, a mixed-use development where people can live, work, shop, eat and pursue whatever interests them without having to get into a car. The plan that completes the ambitious Illinois Center development allows for the construction of up to 4,950 residences, a magnificent 6-acre public park, 2.2 million gross square feet of commercial space, 1,500 hotel rooms, 770,000 square feet of retail space and a proposed elementary school.
Prior to its transformation to the most vibrant new community in Chicago, the Lakeshore East site has served as a transshipment port serving Chicago’s growing economy in the mid 19th century, an Illinois Central railroad freight yard and terminus and, most recently, a par-3, nine-hole urban golf course.
LAKESHORE EAST (LANCASTER SOLD OUT) – Add 2

Some 40 percent of the site will remain vibrant open space. Among the park’s many attractions is free Wi-Fi or wireless broadband Internet access. Other park amenities include a children’s play park, a gated dog park, a large open meadow, water fountains, ornamental gardens and extensive seating.
Other residential developments at Lakeshore East in addition to The Lancaster currently include The Shoreham, a 46-story apartment tower nearing completion; The Regatta, a 44-story condominium building, also under construction; and 340 On The Park, a 62-story condominium tower under construction. Pre-construction sales are now under way for The Chandler; a 35-story condominium building that will provide 304 more condominium homes. And the Parkhomes at Lakeshore East, bordering the new public park, are in the final design stage and expected to be brought to market by spring 2006.
For additional information, please telephone the Lakeshore East sales office at (312) 540-9891 or visit the Web site, www.Lakeshoreeast.com.